Semtech makes chips used in automated test equipment and power-management devices. Its most recent annual report, from last March, listed global headcount of 1,433 – meaning the cuts would affect about 86 jobs. The company did not say how many jobs would be cut or the locations that would be affected. It has 31 offices worldwide in 14 countries.

“Due to the significant reduction in demand in the second half of our fiscal year 2014, we have initiated a series of operating expense reductions across the company. We believe these actions position the company to accelerate earnings growth as our overall demand returns to growth,” President and CEO Mohan Maheswaran said.